Lesson 3 - Become the sole, indispensable supply to both your current and future demand.

A strategy builds a sustainable competitive advantage.

What is strategy?
  • A strategy explains how, in the face of competition, an organization will achieve superior returns
  • A strategy is a hypothesis on future demand
  • A strategy is a focus
  • A strategy is a decision on what not to do
  • A strategy is a tradeoff
  • A strategy is not one activity
  • A strategy is an entire system of activities that fit and reinforce each other
  • A strategy is an integration of decisions and actions across independent units
What are examples of a sustainable competitive advantage (SCA)?
  • Any differentiator that cannot be easily replicated by a competitor is an example of an SCA
  • Network effects are examples of an SCA
  • Unique resources are examples of an SCA
  • Brand loyalty is an example of an SCA
  • Culture is an example of an SCA
  • Habits are examples an SCA
  • Barriers to entry are examples of an SCA
  • High fixed costs are examples of an SCA

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